If someone proposed a deal with me to control 60% of my company and I had the remaining 40% is that a good deal considering my company not bringing in enough revenue? Included in the deal are resources to media equipment and business training to help me become a stronger salesmen.
Realize that, if you give up more than 50% in your company, then effectively you are selling your company and it is no longer yours.
So, the other person doesn't have 60% of your company. You have 40% of his company. He calls the shots. You are a junior partner/employee.